Core Viewpoint - Sienna Senior Living Inc. reported strong financial results for Q2 2025, highlighting strategic growth through acquisitions and operational improvements, alongside recognition as one of Canada's Best Companies in 2025 [3][5][12]. Financial Performance - Revenue for Q2 2025 increased by 17.4% to $253.6 million compared to Q2 2024, driven by higher occupancy and rental rate adjustments in the Retirement segment [5][7]. - Same Property Net Operating Income (NOI) rose by 8.2% to $45.1 million in Q2 2025, with the Retirement segment up 12.3% and the Long-Term Care (LTC) segment up 4.8% year-over-year [5][11]. - Adjusted Funds from Operations (AFFO) increased by 21.0% to $24.1 million in Q2 2025, although AFFO per share decreased by 4.0% to $0.262 due to equity issuances [5][11][19]. Growth Initiatives - Sienna completed $315 million in acquisitions during Q2 2025, focusing on properties in Alberta and Ontario, with additional contracts under negotiation for further growth [4][5]. - The company aims to achieve a stabilized average occupancy of 95% in its retirement portfolio by Q1 2026, with targeted Same Property NOI growth exceeding 10% in 2025 [16][20]. Operational Highlights - Average Same Property occupancy in the retirement segment increased by 150 basis points year-over-year to 92.1% in Q2 2025, further rising to 93.1% in July 2025 [5][15]. - The LTC segment maintained high occupancy levels at 98.5% in Q2 2025, reflecting a stable operating environment [18]. Development Projects - Sienna completed the Northern Heights redevelopment project in North Bay, Ontario, with a total development cost of approximately $80 million and an expected yield of 8.0% [13]. - The company has additional development projects in Brantford and Keswick, with expected completion in 2025 and 2027, respectively, which are anticipated to positively impact operating results [20][21]. Market Outlook - The long-term fundamentals in Canadian senior living are supported by the growing senior population and limited new supply, positioning Sienna for continued growth [14][22]. - The company is actively working on initiatives to enhance its NOI through occupancy growth, acquisitions, and asset optimization [22][23].